AI Company Upstage Raises $72M Series B Round

The company offers document processing solutions to help businesses enhance their work efficiency.

Published on Apr. 16, 2024
AI Company Upstage Raises $72M Series B Round
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Upstage, a South Korean AI company with an office in San Jose, has raised $72 million in a Series B funding round, bringing its total funding to over $100 million. Upstage aims to deliver an artificial general intelligence solution to businesses worldwide, leveraging its AI models and document processing engines to boost work efficiency

The company’s flagship product, Solar LLM, is powered by Upstage’s depth-up scaling technique and has gained recognition for its fast performance and cost-efficiency. The company also offers a solution called Document AI, a tool powered by optical character recognition technology that has found demand in industries like finance and healthcare.

The new capital will enable Upstage to further develop LLMs purpose-trained for global enterprises. Investors including SK Networks, KT and Korea Development Bank led the funding round.

This article was written by Writer, a generative AI tool, using information from press releases and company blogs provided by our staff. All content was reviewed by a Built In editor and went through a fact-checking process to ensure accuracy. Errors can be reported to our team at [email protected].

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